Describe the main rationales for a rule

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Case: In your answer please set forth which provision or provisions of 15 C.F.R. 760.2 are relevant to reaching your conclusion.

A, a U.S. bank with a branch office in boycotting country Y, sends representatives to boycotted country X to discuss plans for opening a branch office in X. Upon learning of these discussions, an official of the local boycott office in Y advises A's local branch manager that if A opens an office in X it will no longer be allowed to do business in Y. As a result of this notification, A decides to abandon its plans to open a branch in X.

U.S. bank A receives a letter of credit in favor of U.S. beneficiary B. The letter of credit requires B to certify that he is not blacklisted. B meets all other conditions of the letter of credit but refuses to certify as to his blacklist status. A refuses to pay B on the letter of credit solely because B refuses to certify as to his blacklist status.

Briefly describe the main rationales for a rule such as that set forth in 15 C.F.R. Part 760.2.

Reference no: EM133256090

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